BioTime Enters Cross-Licensing Deal with Asterias

 

Shares of BioTime (NYSEMKT:BTX) were up Wednesday after the company said it entered a share transfer agreement with Asterias (AST) as well as a cross-licensing agreement for pluripotent stem cell-related patents. Via the share transfer agreement, BioTime will re-acquire from Asterias shares of BioTime subsidiaries Cell Cure Neurosciences and OrthoCyte Corp. As a result, BioTime said OrthoCyte will once again become a wholly-owned subsidiary.

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